Bank Leumi Fined $400 Million for Tax Evasion Scheme; Bans Compliance Officer
Israel-based Bank Leumi has agreed to pay a total of $400 million to resolve charges that it conducted an illegal cross-border scheme to help U.S. clients evade taxes by hiding income and assets in offshore bank accounts at the bank’s locations in Israel, Switzerland, Luxembourg, and the United States. Details ...
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Four U.S. citizens were arrested in California Wednesday in connection with a massive, $346 million international credit card fraud scheme based in Germany, in which compliance officers were allegedly complicit, according to the DOJ.